New Hurdles to Vietnam’s Export Activities, Vietnam Import Export News
Vietnam Business » Vietnam Import Export News » New Hurdles to Vietnam’s Export Activities
In the first half of 2009, Vietnam export value post at US$27.6 billion, 10.1 percent less than the same period last year and 42.7 percent of adjusted year plan. The figure displeased exporters as it leaves out heavy burden for the second half to attain the target of US$60 billion.
Minus growth rate in export value has never been the case in Vietnamese export in the past. It is expected that in the coming months, the export value will continue at low level while there is no sign of improvement in the world market. However, while export values of other economies in the region such as Taiwan, Singapore and South Korea decreased at 30-40 percent, the decrease by 10.1 percent in Vietnam can be understandable. In fact, it is caused by world economic recession and lower purchasing power affects Vietnamese export, Moreover, protectionism applied by certain countries creates additional hurdles. Meanwhile, main exports of “US$1-billion club” in Vietnam also decreased considerably in 2008 including footwear, wood based products, rubber, coffee, aquatic products, cashew nut, and especially in ceramics, cable and wire and crude oil.
Vietnam Business And Financial News Network. Source [vcci]
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